As we move through life, our priorities and responsibilities shift, especially for those aged 35 to 60, a stage often referred to as the consolidation phase. This is when many people are well-established in their careers, possibly advancing to higher positions, and juggling significant responsibilities both at work and at home.

Of course, everyone’s journey is different, and life stages don’t always follow a set timeline. But for many in this age range, it’s a time when financial decisions carry more weight. Ensuring that you have the right insurance cover is essential to protect what matters most.

Whether it’s safeguarding your health, income, or family, having the appropriate insurance policies in place can provide peace of mind and financial security. Speak to one of our financial advisers today to explore how we can assist you in securing your future.

Key insurance to consider:

Health insurance: As we age, health issues can become more prevalent. Comprehensive health insurance that covers major medical expenses, including surgeries, is crucial. 

Income protection: This type of insurance remains vital as it provides financial support if you are unable to work due to illness or injury. It ensures that you can maintain your standard of living while recovering, which is especially important if you have dependents relying on your income.

Life insurance: Life insurance becomes increasingly important as financial responsibilities grow. A policy that provides the right amount of cover can ensure that your family is financially secure in the event of your untimely death, covering debts, education costs, and living expenses.

Trauma insurance: Provides a lump sum payment if you are diagnosed with a specified illness or injury listed in your policy, such as cancer, heart attack, or stroke. Trauma insurance can be a good option to cover immediate expenses and support recovery without the need for proof of income or working hours.

Regularly reviewing your insurance cover is essential to ensure you are neither underinsured nor overinsured. Many people find their coverage inadequate or excessive, leading to financial inefficiencies. A lot can change in 12 months so consulting with a financial adviser provides valuable insights and tailored recommendations, helping you identify gaps and optimise your protection. 

This information is of a general nature and is not intended as personalised financial advice. RIVAL Wealth is a Financial Advice Provider (FAP) licenced by the Financial Markets Authority to provide financial advice. Our disclosure document is located at rivalwealth.co.nz or a written copy is available on request